Singapore-Costa Rica Free Trade Agreement (SCRFTA)

• Over 95% of Singapore’s exports to Costa Rica enjoy no tariffs.

• Duty free access for all imports from Costa Rica into Singapore.

• Preferential tariff treatment if at least 35% of the value-add of a good has taken place in the originating country.

• Businesses can enjoy time and cost savings due to more efficient customs procedures to facilitate the import and export of goods between Singapore and Costa Rica.

Better access to Services sectors. Enhanced market access in sectors include: (i) computer and related services; (ii) courier services; (iii) construction and engineering services; (iv) hospital services; and (v) transport services.

• Investment protection and guarantee of non-discriminatory treatment for Singapore investors and investments in Costa Rica.

• Compensation to Singapore investors in Costa Rica in the event of discriminatory expropriation of their investments.

• Access to international arbitration for disputes between investors and the host government.

Greater procurement opportunities for Singapore: Singapore companies providing master planning and consultancy services for ports and airports can access more government procurement opportunities in Costa Rica.

Both Singapore and Costa Rica have committed to the promotion of greater collaboration in the following areas, among others:

• Science and Technology

• Food and Agri-Business

• Labour

• Environment

• Healthcare

• Infrastructure

• Information Communication Technology